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Only balance in local currency

Former Member
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Hi guys,

I am creating the GL master record,

if i select "only balance in local currency" what happens while posting a document and

if not select what happens while posting a document

and what is the purpose of it

Accepted Solutions (0)

Answers (4)

Answers (4)

Former Member
0 Kudos

If I select “Account currency” as INR and also “only balance in local currency”

Now If I post the document, the document will be updated in INR and also USD?

If I select “Account currency” as INR only

Now If I post the document, the document will be updated only in INR?

NOTE: CAN ANY BODY SEND ME AN EXAMPLE FOR THE ABOVE QUERY

Former Member
0 Kudos

Hi

only Balance in local currency

It will updated all your business transcations only balance in local currency ( it will updated Company code currency )

Regards

Sure

Former Member
0 Kudos

dear!

you can select one of the following currency as account currency:

1- Local Currency ( Company Code Currency)

2- Foreign Currency

as Standard, the local Currency is proposed as the account currency when you create GL Account.

If the Account currency is the local currency, the account can be posted in any currency.

Further, " Only Balance in local cuuency" you set this indicator for accounts that can be posted to in different currencies but where clearing is only in local currency to avoid the exchange rate difference posting.

This indicator must be set in cash discount and GR/IR Clearing accounts

also this indicator is set for balance sheet account that are not managed in foreign currency.

hope this will be helpful

Former Member
0 Kudos

Hi

if it is set, transaction figuress are transalated in to local currency. Normally you shoulkd activate the same for clearing accounts in which no foreign exchange gain/loss in needed. It must be set in Cash Discount and GR/IR Clearing accounts. And must not be in Reco a/c for customers & vendors.

Usually set in balance sheet accounts which are not managed in Foreign currency and not managed on Open Item basis

hope this clears your doubts

pushkaraj

Former Member
0 Kudos

If I select “Account currency” as INR and also “only balance in local currency”

Now If I post the document, the document will be updated in INR and also USD?

If I select “Account currency” as INR only

Now If I post the document, the document will be updated only in INR?